General Benefits of Accounting

This time we will discuss the general benefits of accounting for students, companies, businesses and education.

 

For those who are still in junior high school, high school as well as in colleges and universities often think that learning accounting is very difficult because it is related to numbers and calculating money that we do not hold, it is not easy.

 

Learning accounting is simply calculating imaginary money that doesn’t exist in real time. Some people generally think that learning accounting is difficult, it makes the brain dizzy and has headaches until it is perceived that accounting can make the head bald.

 

But actually, if we know how or the trick, learning accounting will not be boring. For this reason, you must know how to learn accounting in a way that is easy to understand.

 

Learning accounting can be fun if you have the intention to really want to do it, study hard while practicing.

 

Often with friends and people who know more about the scope of accounting so that knowledge and insight into the accounting function becomes broader.

 

Benefits of accounting for students, companies and businesses

Benefits of accounting for students, companies and businesses

If we often study accounting, we will get many benefits. Here are the benefits of accounting for students, companies, business and education for those who think learning accounting is very difficult.

 

Table of contents :

Benefits for Students:

Benefits for Business:

Benefits for Education:

The benefits of financial statements include:

Benefits for the Company:

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Benefits for Students:

Accounting helps owners and prospective company owners know the company’s financial position and the company’s prospects in the future.

So that students can know which necessities of life are necessary and which are not necessary

So that students can manage their finances so that their allowance money is sufficient.

Learners will get to know how companies carry out accounting activities every day such as making reports of gross and net income.

Students can apply accounting principles in everyday life and the basic concepts of accounting will continue to be attached to personal financial management.

students who understand accounting can manage income and expenses each month well.

The science of accounting can continue to develop so that knowledge of accounting for students is important in applying it.

Various kinds of knowledge about accounting certainly play an important role because it records our own financial events or transactions.

Also Read:   Financial Ratio Analysis

Benefits for Business:

Accounting ( accounting ) is a process of identifying, measuring, and reporting economic information, to enable clear and unequivocal judgments and decisions for those who use the information.

 

However, in the business world, accounting ( accounting ) can be defined as an information system that provides reports to stakeholders regarding economic activity and the condition of a company.

 

These stakeholders are the owners (shareholders), employes (workers), customer (customer), kreditors (the lender), goverment (government), communty (society).

 

So the benefits of accounting for the business world are:

 

Assessing the Needs of Stakeholders.

Identify stakeholders.

Designing accounting information systems to meet the needs of stakeholders.

Prepare accounting reports for stakeholders.

Recording economic data regarding company activities and events.

Stakeholders use accounting reports as the main information, although they are not the only ones to make decisions, they also use other information.

 

For example, in deciding to provide a credit facility to a local startup shop, the bank not only uses the accounting report, but also goes to the store and asks the surrounding community about the shop owner’s reputation.

 

Benefits for Education:

The benefits of accounting in education are to develop knowledge of accounting science among students so that students can apply and develop accounting in their daily lives.

 

As well as being able to learn to make financial statements at least your own financial statements. As for the meaning of financial statements.

 

Is a financial list of an economic entity that is compiled systematically by an accountant at the end of the period; or records that provide independent financial information or a company that has been running the company for one period (usually one year).

 

The benefits of financial statements include:

As the responsibility of management to the owner of the company.

A means of communication between company activities and parties with an interest in the company, such as creditors / potential creditors, investors / potential investors, bankers, the government and others.

As a means of planning, controlling and making decisions that are effective for management, for example:

– Measuring the level of costs of company activities.

– To measure the efficiency of production processes and the level of profit achieved.

– To determine the need for new policies or procedures to achieve better results.

Also Read:   Understanding Depreciation (Depreciation)

Benefits for the Company:

Management is directly related internal parties and is in need of financial information for controlling ( controll ), coordination ( coordination ), and planning ( planning ).

External parties that have a direct relationship with the company include investors (owners), creditors, customers, employees and the public. They have an interest in company financial information with different benefits, among others.

Employees have an interest in knowing the rights that can be obtained from the company.

The general public has an interest in the general and social aspects of the company.

It is in the owner’s interest to determine the attitude of retaining the shares or releasing them.

Creditors have an interest in deciding whether credit to the company can be extended or enlarged.

The customer ( customer ) has an interest in evaluating the business relationship with the company.

Companies and various institutions under their control need information regarding the allocation of resources. This information is used to determine the company’s activities, determine tax policy, and as the basis for compiling national income statistics.

With we understand the benefits of accounting for students, companies, business and education. Of course it will be easier to understand the benefits of accounting in general, such as benefits for companies, benefits for business and benefits for education.

 

Many methods of learning accounting can make it easier to master accounting and make students like studying accounting.

 

Try to compare yourself before studying accounting seriously, then try to feel the difference after we understand accounting.

 

There is no world knowledge that is difficult, unless we are lazy to study it more deeply, so don’t be lazy, try to like a field with a focus so we can feel the results

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